This excerpt taken from the BJ 8-K filed May 8, 2009.
Revised Earnings Guidance for First Quarter and Full Year
The Company today also announced revised earnings guidance for the first quarter (ended May 2, 2009) and full year (ending January 30, 2010). Based on higher than expected merchandise sales and margins for the first three months of the fiscal year, the Company now expects to report earnings per diluted share in the range of $0.41 to $0.45 for the first quarter. Previous guidance was in the range of $0.29 to $0.33 per diluted share. For the full year ending January 30, 2010, the Company now expects to report earnings per diluted share in the range of $2.42 to $2.52 compared to previous guidance of $2.26 to $2.36.
BJs President and CEO Laura Sen said, During the first quarter, our members continued to respond very positively to both our tremendous values and to the merchandise and operational improvements in the clubs. While we started off the year with very strong sales and margins and hope they will continue, we believe our revised guidance for the full year is prudent based on the uncertain economic environment.
The Company currently operates 180 BJs Wholesale clubs in 15 states. BJs introduced the wholesale club concept to New England in 1984 and has since expanded to become a leading warehouse chain in the eastern United States. BJs press releases and filings with the SEC are available on the Internet at www.bjs.com.